The global gas detection equipment market is projected to reach $7 billion by 2028, at a CAGR of 7.6% during 2023-2028. The growth of gas detection equipment market is driven by rising demand for gas monitoring amenities to detect the presence of hazardous gases and rapidly growing construction all around the world coupled with increasing focus on workplace health and safety across various industries.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the gas detection equipment
market by product (fixed gas detectors and portable gas detectors), technology
(semiconductor, infrared (IR), laser-based detection, catalytic,
photoionization detectors (PID), and others), application (medical, building
automation & domestic appliances, environmental, petrochemical, automotive,
industrial, oil & gases, and others), and region (North America, Europe,
Asia Pacific, and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the gas detection equipment market?
Q.4 What are some
changing demands of customers in the gas detection equipment market?
Q.5 What are the new
developments in the gas detection equipment market? Which companies are leading
these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this gas detection equipment area and how
big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity
has occurred in the last 5 years in this gas detection equipment market?
Market Segmentation:
Based on product, the
gas detection equipment market is segmented into fixed gas detectors and
portable gas detectors. The fixed gas detector segment accounted for the
largest share of the market in 2023 and is expected to register the highest
CAGR during the forecast period, due to the growing need for safe and healthy
working environments, along with increasing implementation of wireless technology
as it enables efficient monitoring and data analysis.
APAC is projected to
will remain the region with the highest growth over the forecast period due to
rapid industrialization and increasing installation of portable gas detectors
in the large industrial facilities in the region.
Key Players in the gas
detection equipment market are ABB, Airtest Technologies, Teledyne
Technologies, Fluke Corporation, General Electric Company, Honeywell
International, Lynred, Opgal Optronics Industries, Thermo Fisher Scientific,
and Siemens.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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